RealWebFunds Secures Commercial Mortgage Financing For Assisted Living Facility in Seminole, Florida

Christy Slye, a mortgage broker with RealWebFunds Commercial Mortgage, has announced that the firm recently closed $1,950,000 in acquisition financing for Casa Celeste, a 100 unit Assisted Living Facility in Seminole, Florida

Seminole, FL (PRWEB) August 20, 2004 -- Christy Slye, a mortgage broker with RealWebFunds Commercial Mortgage, has announced that the firm recently closed $1,950,000 in acquisition financing for Casa Celeste, a 100 unit Assisted Living Facility in Seminole, Florida.

The current management of this campus-like facility had an option to purchase the property. They needed to find a commercial mortgage lender that could accommodate a limited, yet successful operating history under their management and foresee the value-add potential of the property. Choosing the correct commercial lender enabled the borrower to get long-term debt financing rather than more expensive bridge financing.

First National Bank of Florida funded the assisted living facility loan. This commercial mortgage lender provided a 10 year variable rate loan with a 6% starting interest rate adjusting every 3 years. The loan has 15 year amortization schedule with no prepayment penalty.

About RealWebFunds
RealWebFunds, Inc. (www.realwebfunds.com) is a national commercial mortgage loan broker for real estate projects between $500,000 and $20,000,000. RealWebFunds is known for encouraging competition among commercial mortgage lenders to find the best commercial real estate financing available. Our commercial loan experts and Internet based commercial financing tools result in a service that is unmatched in efficiency, speed, and financing terms. In 2003, RealComm (http://www.realcomm.com) recognized RealWebFunds with a Digie Award for being a leader and innovator in the Commercial Real Estate industry.

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